Inventory work in progress

Ian Thibodeau The Detroit News Published 11:00 PM EDT Aug 8, 2019 Detroit's automakers are struggling to sell vehicles and make money in China, the world's largest auto market. But industry leaders say they're making moves to change that. General Motors Co., Ford Motor Co. and Fiat Chrysler Automobiles NV all have reported overseas losses this year because of new headwinds overseas: Chinese manufacturers are making better vehicles catering to what Chinese consumers want, and the Chinese economy is slowing thanks to deepening trade tensions between the U.S. and Chinese governments. "It's a time of reckoning for many companies operating in China," said Michael Dunne, CEO ZoZo Go LLC, a Hong Kong-based automotive consultancy. "Until very recently, Detroit automakers and their suppliers had a sensational run in China. Now they've seen 12 months of declining sales. This puts us into a totally new uncharted territory. This is a … [Read more...] about Detroit automakers face ‘time of reckoning’ in China

“I had to draw the line somewhere,” Souza said, standing behind the counter of her store next to an elaborate cappucino machine. The Wrap burned to the ground years ago, and in its place has risen, phoenix-like, a modern apartment building, the anchor of which is a ground-level cafe, apothecary, and juice bar called JUEL, after its owners, Julie Sumanis and Elena Taylor. The cafe, located on the corner of North Main and Bridge streets, in the heart of downtown, captures the essence of the renaissance of this old industrial village: on the same spot where women were once exploited and objectified, two young female entrepreneurs are running a thriving business. Souza, White River’s pioneering businesswoman, recently did some research and figured out that no less than 25 businesses that have opened in the once-vacant and newly built storefronts in the four-block downtown area are run by women. It wasn’t planned. It isn’t part of some high-minded … [Read more...] about In White River Junction, sisters are doing it for themselves

John Gallagher Detroit Free Press Published 6:28 AM EDT Mar 21, 2019 White people make up just 10 percent of Detroit’s population but got nearly half of the home mortgage loans made in 2017 for which the race of the applicant was known. That data point and several more show that the mortgage market in Detroit, while improving in recent years, remains anemic at best and, at worst, nonexistent in many parts of the city. Data collected under the federal Home Mortgage Disclosure Act show: ► White borrowers got almost the same number of mortgages as black borrowers despite being a much smaller percentage of the city population. Of 1,072 mortgage loans made in Detroit in 2017, the most recent year for which full data are available, 442 went to white borrowers, 461 to black borrowers, and in the remainder the race of the applicant was not known, or, in a few cases, went to Asians or those of other ethnic groups. ► The mortgage market … [Read more...] about Few blacks get mortgages for homes in Detroit, data show

M&A makes up majority of foreign capital inflows Some US$6 billion out of US$7.63 billion in foreign investment capital pledged to HCMC last year came from capital contributions, share acquisitions and purchases of stakes from domestic businesses. HCMC vice chairman Le Thanh Liem said at a conference in Binh Duong Province on February 14 that the pledged investment capital from foreign investors for HCMC last year picked up by 15.59% against the previous year. Of these, there were 1,060 new projects, with total registered capital of US$811.68 million, and 244 projects with additional capital of over US$835 million. Last year also saw 3,283 cases in which foreign investors received approval to contribute capital, buy shares and contribute capital to domestic firms, with registered capital totalling US$5.99 billion. With these results, HCMC received around 60% of foreign capital. According to Liem, the 2014 investment law has provided a favorable legal corridor for foreign investors … [Read more...] about BUSINESS NEWS IN BRIEF 19/2

Vietnamese goods campaign promote local firms’ development A trade promotion fair to connect firms in Hà Nội and other localities. — Photo kinhtedothi.vn A campaign urging local people to buy “Made-in-Viet Nam” products has helped develop businesses across the country. The Vietnamese people using Vietnamese goods campaign has played a key role in helping local enterprises, a conference held in Hà Nội on Tuesday heard. “The campaign should not be a slogan but aim to conquer Vietnamese consumers,” said deputy minister of Industry and Trade Đỗ Thắng Hải. Trương Thị Ngọc Ánh, vice chairwoman of the Việt Nam Fatherland Front Central Committee, said all of localities nationwide had worked to implement the idea. More than 100 trade promotion conferences were held last year and more than 2,000 programmes were organised to bring Vietnamese goods to rural areas. “Local … [Read more...] about BUSINESS NEWS IN BRIEF 17/1